In an event in New Delhi, PayTM has signed a strategic partnership with PVR to sell latter’s ticket on its mobile payment platform. At the launch event, it is said that PVR targets to sell tickets worth of Rs. 2.5-3 billion in terms of revenue. The latest deal is a part of PayTM’s Rs. 120 cr investment in the online ticket market.
Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd. said:
“In our never-ending passion to provide convenience to our esteemed patrons, we have partnered with Paytm as our e-ticketing channel partner. Reaching over 500 screens brings further responsibilities to provide a seamless movie watching experience. With Paytm, we envision to touch millions of new movie goers who may now experience the joy of watching films at a PVR Cinema near them. This is another initiative to augment the box office revenues by reaching out to more consumers and achieving better penetration into micro markets. To sum up, this association is a sure delight not only for us but for our patrons, film distributors and producers alike!”
Mr. Vijay Shekhar Sharma, Founder & CEO, Paytm said:
“Launch of movie tickets on Paytm is in line with our overall strategy of bringing more and more payment use cases online. Today online platforms penalise customers for paying in advance digitally as they are asked to pay a fees and surcharge. We will eradicate this practice and also enable customers to purchase popcorn and other confectionaries online thereby reducing queues as well.”
“We plan to launch movies with upto 100% and other weekday special promotions to encourage users to try booking movies on the Paytm app. We have a collaborative approach with cinemas and other brands and aim to offer consumers incentives to drive the currently low online penetration from less than 15% to more than 50% in the next 3 years. We have budgeted Rs. 120 crore this year alone for this.”
Mr. Kamal Gianchandani, Chief of Strategy, PVR Ltd. added:
“We want to super serve moviegoers anytime and anyplace with engaging movie information, offers and other features, so it was natural for us to team up with Paytm, whose mobile wallet and e-commerce services are enjoyed by millions and is a great distribution platform for PVR’s movie tickets and F&B offerings. Paytm’s insights into moviegoer behavior will be a key piece of movie audience data that will be added to our growing data and targeting capabilities platform, as we look to better serve our audiences with timely, targeted and relevant content and messaging.”
Starting from this, PVR tickets and food & beverage offerings will be sold & marketed on PayTM’s web portal, mobile apps and other affiliate channels. The company is entering into the online ticketing space which is currently dominated by BookMyShow.